Building customer-based brand equity • building a strong brand involves a series of steps as part of a branding ladder • a strong brand is also characterized by a logically constructed set of brand building blocks. The last step of a brand study might be the brand equity brands' strategies leed to different brand equities you can study it thanks to keller's studies on the competitive frame of reference and thanks to his well-known brand equity pyramid. Kevin lane keller developed the model and published it in his widely used textbook, strategic brand management within a pyramid, the model highlights four key levels that you can work through to create a successful brand. Brand equity is the financial value of a brand also known as the brand resonance pyramid (keller, 2007:48) the model is build around 4 sequential steps. Very simply, brand description (or identity or image) is tailored to the needs and wants of a target market using the marketing mix of product, price, place, and promotion.
This tool highlights four steps that you can follow to build and manage a brand that customers will support overview keller's brand equity model is also known as the customer-based brand equity (cbbe) model. Creating significant brand equity involves reaching the top or pinnacle of the pyramid and will only occur if the right brand building blocks are put into place the corresponding brand steps represent different levels of the pyramid. Important steps in building strong brand:1) establish a proper brand identity2) create an appropriate brand meaning 3) provide right brand response 4) evoke brand relationship as depicted in figure 2. Brand equity, as defined by keller (1993), occurs when a brand is known and has some strong, favourable and unique associations in a consumer's memoryas shown in figure 1, the cbbe model identifies four steps for building a strong brand.
Aaker (1991), keller (2001) and millward brown(1998)- the power of a brand is in what resides in the minds of customers steps in keller (2001) and milward brown (1998) model, one step must be met to lead to another, both use triangle to represent building blocks. Keller's customer-based brand equity model (brand resonance model) a strong brand can be leveraged to achieve greater market share and increased profits the trick, though, is building the powerful brand. Keller (1993) used the term consumer-based brand equity to refer to brand equity and noted that customer-based brand equity occurs when the consumer is familiar with the brand and holds some favourable, strong and unique brand associations in their memory. 'brand equity' is a phrase used in the marketing industry which describes the value of having a well-known brand name, based on the idea that the owner of a well-known brand.
In keller's brand equity model, each step of the process is represented as part of a pyramid at the very bottom of the pyramid, you have brand identity this refers to the words, symbols, and other identifying marks and branding that make your company what it is. Considering today's fierce competition in the global market place, building strong brand equity is essential for any company that plans to sustain a long-term competitive advantage (kabiraj & shanmugan, 2011. 24 keller's customer-based brand equity model this model depicts the process that goes into building strong brands it is set in the realm of brand added value, ie the focus of this model is on the added value a brand offers its customers/consumers.
Brand equity and figure 23 for the customer based brand equity (cbbe) pyramid the identity prism is complementary on the cbbe pyramid when it comes down to brand identity at stage one of the customer based brand equity (cbbe) pyramid. The second layer of the pyramid deals with giving meaning to the brand and here keller presents two building blocks: brand performance and brand imagery brand performance is the way the product or service attempts to meet the consumer's functional needs. Because brand identity is the first step in keller's brand equity model, it is the most important step and the base of the brand equity pyramid if the base is strong, the pyramid will be stronger thus, the stronger the brand identity you build from the start, the better it is for your brand.
Chapter 2 brand equity and brand value 29 in this chapter, we identify what makes a brand strong and lay out a framework for how firms can build strong brands. Ensure identification of the brand with customers and an association of the brand in customers' minds establish the totality of brand meaning in the minds of consumers elicit the proper customer responses to the brand identification and brand meaning 4 2the four steps of brand building 1 active loyalty relationship between customers and.
Chapter 4 addresses the first way to build customer-based brand equity and how to choose brand elements (ie, brand names, logos, symbols, slogans, and so forth) and the role they play in contributing to brand equity. Keller's customer-based brand equity pyramid can be simplified into 4 laddering questions, which represents both rationale and emotional aspects of the brand salience - is the identity of the product and brand such as product features or brand attributes (logos. Brand equity the concept of brand equity is the main focus of this book-andprovides students with a valuable perspective,and common denominator to interpret the potential effects and trade-offs of various strategies and tactics for their brands.